37 returns under GST in a year?
watch_later 1 year, 3 months ago
Why every news paper is abusing GST considering 37 returns to be filed in a year and they want GST to come from September instead of July?
Those who have kacha maal and are not able to clear their stock are opposing GST.
They say small traders will not be able to comply with GST. Who cares about small businesses, most of small traders neither get any support from government nor from any business forum such as Ficci or Nasscom.
All are formed by large companies.
Every one knows what happens in Cement industry or any other Indian operated industries. MNCs are not opposing it because they do not hold any stock purchased without paying tax.
Out Indian companies purchased stock without paying tax and sold without paying tax. Now they need to clear this stock before GST.
A large volume of stock is underlying and they want GST to come from September so that stock can be cleared.
Government should go ahead with plan of implementation from July 1, 2017 without giving any support to these so called well wishers of economy.
Every taxable person, other than one opted for composition levy needs to file:
- Details of purchase or inward supplies
- Details of outward supplies and
- Monthly return
- One annual return
Whether GST comes from July or September, volume of returns will not go down.
It may hurt but that truth. - GST Payer
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